Which of the following examples is most likely part of the underground economy?
a. Sam opens a hot dog stand at a busy intersection of a city.
b. Avery trades in a used car to an automobile dealership.
c. Hudson earns money going from house to house offering to shovel snow.
d. Chloe sells official team souvenirs outside of a ballpark.
c. Hudson earns money going from house to house offering to shovel snow.
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What will be an ideal response?
Provide an example of each allocation method that illustrates when it works well
What will be an ideal response?
In the self-correcting AD-AS model, the economy's short-run equilibrium position is indicated by the intersection of which two curves? a. Short-run aggregate supply and long-run aggregate supply
b. Short-run aggregate supply and aggregate demand. c. Long-run aggregate supply and aggregate demand. d. Long-run aggregate demand and short-run personal consumption expenditures curve. e. Short-run aggregate demand and long-run personal consumption expenditures curve.
When the economy enters a recession, automatic stabilizers create:
A. higher taxes. B. more discretionary spending. C. budget deficits. D. budget surpluses.